How to kickstart your investing journey with a POEMS trading account

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By Beansprout • 08 Feb 2024 • 0 min read

POEMS provides you with a wide selection of investment products across various markets. Receive free shares worth up to S$280 when you fund and trade by 29 February 2024.

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This article was created in partnership with Phillip Securities Pte Ltd. The views and opinions expressed are Beansprout's objective and professional opinions.

Some of the common questions we have been getting frequently are – “There are so many stock brokerages and investment platforms, how do I choose the best one for my financial needs?”

Many of you have also asked “Which trading platforms should I consider? Particularly one that allows me to invest with my CPF and SRS funds” 

This brings us to the POEMS trading platform - Singapore's pioneering online trading platform.

What exactly is POEMS?

When you hear the word ‘POEMS’, the first thing that comes to mind would most likely be a genre of literature.

POEMS in Singapore context actually refers to “Phillip’s Online Electronic Mart System” and has been a significant fixture in Singapore’s financial industry for nearly three decades. 

Launched by Phillip Securities in 1996, the POEMS trading platform offers extensive access to numerous exchanges and over 40,000 financial products including, stocks, bonds, unit trusts, forex, futures, insurance, and even a Regular Savings Plan.

What are some of the key features of POEMS?

  • It allows you to park your idle cash and earn with Money Market Funds (SMART Park) at 3.72%* p.a. for SGD / 5.46%* p.a. for USD with no lock-in periods
  • 0 Platform Fees, 0 Custody Fees, 0 Settlement Fees 
  • No Hidden Fees
  • Competitive rates for 26 exchanges
  • Fund & Trade in 10 different currencies 
  • 2000+ Unit Trusts at 0% Sales Charge, 0% Switching Fee, and 0% Platform Fee
  • Timely and well-researched stock reports provided by Phillip Securities Research analysts

*Rates updated as of 5 February 2024. 

Based on the average rate of annualised returns over the last rolling week.

Past performance is not necessarily indicative of future performance.

#1 Wide range of financial products and markets

POEMS provides investors with a wide selection of investment products as well as access to various markets.

If you are interested in growing your portfolio of stocks and ETFs, POEMS offers access to 26 exchanges, including the Singapore Stock Exchange (SGX), New York Stock Exchange (NYSE), Hong Kong Stock Exchange (HKEX), London Stock Exchange (LSE), and Bursa Malaysia.

For those looking to invest in unit trusts, POEMS boasts a selection of over 2,000 Unit Trusts.

Did you know that POEMS’ SMART Park allows you to park your idle cash and earn a yield with no lock-in period?

As of 5 February 2024, SMART Park offers a yield of 3.72% p.a. for Singapore dollar funds and 5.46% p.a. for US dollar funds.

poems smart park 2024
Source: POEMS as of 5 Feb 2024

#2 – Invest using your CPF and SRS funds 

If you are thinking of using your CPF and SRS funds for investments, it is important to note that only selected trading platforms allow you to do so.

As a well-established trading platform in the Singapore market, POEMS grants you access to a wide range of approved investment products for CPF and SRS funds. 

When it comes to setting up a regular savings plan with your CPF or SRS funds, POEMS also stands out as having one with the lowest fees in the market.

Click here to find out more about investing your CPF or SRS funds with POEMS. 

#3 – Access the latest market insights

In January 2022, POEMS launched POEMS Mobile 3 App, an upgraded version of its Mobile App and significantly enhances the suite of investment tools available to its users.

poems mobile 3 app
Source: POEMS

 

Key features of the POEMS Mobile 3 App include:

  • Research Reports & Analyst Calls: Gain access to research reports from in-house research analysts, with insights on a variety of companies
  • In-built TradingView Chart: The TradingView Charting feature stands out for its versatility, offering over 100 technical indicators such as the Relative Strength Index (RSI), Moving Average Convergence/Divergence (MACD), and Exponential Moving Average (EMA), along with a comprehensive range of drawing tools
  • Market Pulse: Stay informed with the latest financial news and market updates
  • Thematic Portfolio: Explore diverse investment themes and identify long-term market trends for strategic investment planning
  • Community: Engage with a network of investors for shared insights and discussions
poems mobile app community
Source: POEMS

#4 - No hidden fees

POEMS maintains transparency regarding its fee structure across all accounts, You may be delighted to know that there are no platform fees, and settlement fees. 

US & HK Custody fees are waived for Cash Plus Account until 31 December 2024! 

There is an account maintenance fee of S$15.00 per quarter if you hold Singapore securities, but this fee can be waived if you make at least one trade of Singapore stocks and ETFs per quarter for POEMS Cash Plus Account and no account Maintenace fee for POEMS Cash Management Account. 

Below is a summary of the fees charged by POEMS Cash Plus Account and Cash Management Account:

POEMS offers one of the lowest fees for trading SGX-listed stocks and ETFs. The POEMS Cash Plus Account offers a flat fee from 0.06% per trade, with no minimum commission.

 

Cash Plus Account

Cash Management Account

Starter (S$0 - S$29,999)

Premier (S$30,000 - S$249,999)

Privilege (S$250,000 and above)

SG stocks and ETFs

0.08%, no minimum commission

 

0.07%, no minimum commission

 

0.06%, no minimum commission

 

0.28% (trade value less than S$50,000)

0.22% (trade value S$50,000 to S$100,000)

0.18% (trade value more than S$100,000)

Minimum S$25 for all

US stocks and ETFs

US$3.88US$2.88US$1.880.30%, minimum US$20

HK stocks and ETFs

0.08%, minimum HKD300.06%, minimum HKD200.05%, minimum HKD150.25%, minimum HKD100
Source: POEMS as of 8 February 2024

#5 - Multiple funding options

POEMS stands out for its flexibility in funding options, allowing you to fund and trade in 10 different currencies.

Unlike many brokerage platforms that primarily accept bank transfers or Direct Debit Authorisation (DDA), POEMS offers a variety of funding methods, including:

  • PayNow
  • DBS PayLah!
  • OCBC PayAnyone
  • GooglePay
  • FAST (Fast And Secure Transfers)
  • eNETS
  • Electronic Payment for Shares (EPS)
  • Internet Bill Payment
  • Fund Transfer from DBS Bank Multi-Currency Account (non-SGD)
  • Telegraphic Transfer
  • CPF
  • SRS
  • GIRO - Shares/Regular Savings Plan/Share Builders Plan

Which POEMS account is more suitable for me?

POEMS offers users with a few account types to choose from, of which the two most popular types are: Cash Plus Account and Cash Management Account.

The latter is directly linked to your Central Depository (CDP) account while the former is a custodian account.

Just to recap, a CDP account provides clearing, settlement, and depository facilities for Singaporean investors. 

The key difference is that with a CDP account, the shares purchased are kept under your name.

On the other hand, for custodian accounts, shares that you purchased are held in custody by the brokerage platform you transacted from.

In summary, the differences between the two are as follow.

Generally, the Cash Plus Account is preferred if you are an active investor who wants to enjoy low fees, a multi-currency facility, and easy deposit via PayNow.

 Cash Plus AccountCash Management Account
Commission feesLowerHigher
Standby margin financingYesNo
Account maintenance fees (S$15 per quarter)YesNo
Trading using CPF and SRS fundsYes, but prefunding is requiredYes
Trading with BUY limit (buy first, pay later)NoYes
Contra tradingNoYes
Direct linkage to your CDP accountNoYes
Source: POEMS

Choosing the right POEMS platform for your needs

As a POEMS user, you will have access to a variety of platforms tailored to different trading needs and preferences. 

These include POEMS 2.0 (web browser), POEMS Mobile 2.0, POEMS Mobile 3 App and POEMS Pro. 

Here’s a quick guide to help you determine which platform suits you best:

POEMS 2.0 (Web Browser)

  • Ideal for: Investors who prefer trading from a desktop environment with a comprehensive web interface
  • Features: User-friendly interface, real-time market data, extensive research resources, and easy access to a wide range of investment products
     

POEMS Mobile 2.0 and POEMS Mobile 3 App

  • Ideal for: Busy traders who require the flexibility to trade from anywhere using their mobile devices
  • Features: Both Apps offer easy navigation, quick access to market data, and the ability to execute trades efficiently. The POEMS Mobile 3 App, being the latest version, offers enhanced features and a more intuitive user experience

POEMS Pro

  • Ideal for: Active traders who require advanced trading tools and functionalities
  • Features: Sophisticated charting tools, customisable layout, direct market access, and advanced order types for a more dynamic trading experience
Products offeredPOEMS 2.0POEMS Mobile 2.0POEMS Mobile 3 POEMS Pro
StocksYesYesYesYes
Exchange Traded FundsYesYesYesYes
Contracts For DifferenceYesYesYesYes
Securities Borrowing and LendingYesNoNoNo
ForexYesYesNoNo
GoldYesYesNoNo
FuturesYesYesNoNo
Unit TrustsYesYesYesNo
Share Builders PlanYesYesYesNo
UT Regular Savings PlanYesYesYesNo
BondsYesNoYesNo

POEMS users will have access to the following markets:

Markets offeredPOEMS 2.0POEMS Mobile 2.0POEMS Mobile 3POEMS Pro
Singapore (SGX)YesYesYesYes
US (NYSE, AMEX, NASDAQ)YesYesYesYes
Hong Kong (HKEX)YesYesYesYes
Thailand (SET)YesYesYesYes
Malaysia (BURSA)YesYesYesYes
UK (LSE)YesYesNoYes
Japan (TSE)YesYesYesYes
Indonesia (IDX)YesYesYesNo
Australia (ASX)YesYesYesNo
Germany (FWB)YesYesNoYes
China A Shares (SH-HK Stock Connect)YesYesYesYes
China A Shares (SZ-HK Stock Connect)YesYesYesYes
Source: POEMS

Our take on POEMS

POEMS has a long-established history operating in Singapore as well as 14 other countries.

It is the pioneer for online stock trading in Singapore, launched back in 1996 for retail investors.

If you are keen to open a POEMS Account, you can now receive up to S$630* of ang pows with their Chinese new year promotion. 

What’s more, you can enjoy free trading and live prices on popular markets and FREE US shares worth S$350 when you open a POEMS Cash Plus Account and opt-in for Money Market Fund from now till 29 February 2024!

image.png

What’s more in store for you? Receive free US shares worth up to S$280 when you fund & trade!

poems cny fund and trade rewards

Tier 1

Make an initial deposit of S$3,000 within 14 days of Account Opening & Execute 3 BUY Trades (Stocks/ETFs/Unit Trusts) within 90 days of Account Opening to receive:

  • 2 X FREE JD.com Shares (worth S$76*)

Tier 2

Make an initial deposit of S$10,000 within 14 days of Account Opening & Execute 5 BUY Trades (Stocks/ETFs/Unit Trusts) within 90 days of Account Opening to receive:

  • 2 X FREE JD.com Shares (worth S$76*)
  • 2 X FREE Alibaba Shares (worth S$204*)

Redeem your Welcome Gifts here: https://www.poems.com.sg/welcome-gifts/

poems cny free shares 2024

*T&Cs Apply. Subjected to price fluctuations. 

Disclaimer

This advertisement has not been reviewed by the Monetary Authority of Singapore. 

Any information provided in this article is meant purely for informational and investor education purposes and should not be relied upon as financial or investment advice, or advice on corporate finance.

This article is not and does not constitute or form part of any offer, recommendation, invitation or solicitation to purchase any financial product or subscribe or enter any transaction. This article also does not take into account your personal circumstances, e.g. investment objectives, financial situation or particular needs and shall not constitute financial advice. You should consult your own independent financial, accounting, tax, legal or other competent professional advisors. 

The rate is correct at the time of publishing. Check the latest rates at https://www.poems.com.sg

The information provided in this article are on an “as is” and “as available” basis without warranty of any kind, whether express or implied. Beansprout does not recommend any particular course of action in relation to any investment product or class of investment products. No information is presented with the intention to induce any person to buy, sell, or hold a particular investment product or class of investment products.

The information provided herein may contain projections or other forward looking statements regarding future events or future performance of countries, assets, markets or companies. Actual events or results may differ materially. Past performance figures are not necessarily indicative of future or likely performance

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1 comments


  • Low Weng Woh • 13 Feb 2024 11:24 PM